JPMorgan Chase & Co. (JPM) Stake Lowered by Klingman & Associates LLC

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Klingman & Associates LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 10.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,791 shares of the financial services provider’s stock after selling 542 shares during the quarter. Klingman & Associates LLC’s holdings in JPMorgan Chase & Co. were worth $499,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Advisor Partners LLC boosted its position in shares of JPMorgan Chase & Co. by 3.6% during the first quarter. Advisor Partners LLC now owns 93,037 shares of the financial services provider’s stock worth $10,231,000 after purchasing an additional 3,242 shares in the last quarter. Pinnacle Financial Partners Inc. lifted its position in JPMorgan Chase & Co. by 8.4% in the 1st quarter. Pinnacle Financial Partners Inc. now owns 133,082 shares of the financial services provider’s stock valued at $14,635,000 after acquiring an additional 10,349 shares in the last quarter. Intersect Capital LLC lifted its position in JPMorgan Chase & Co. by 4.8% in the 1st quarter. Intersect Capital LLC now owns 26,413 shares of the financial services provider’s stock valued at $2,905,000 after acquiring an additional 1,198 shares in the last quarter. Intrust Bank NA lifted its position in JPMorgan Chase & Co. by 2.5% in the 1st quarter. Intrust Bank NA now owns 47,886 shares of the financial services provider’s stock valued at $5,266,000 after acquiring an additional 1,175 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its position in JPMorgan Chase & Co. by 8.3% in the 1st quarter. Meeder Asset Management Inc. now owns 122,482 shares of the financial services provider’s stock valued at $13,469,000 after acquiring an additional 9,421 shares in the last quarter. Institutional investors and hedge funds own 70.54% of the company’s stock.

Shares of JPM stock opened at $109.02 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.17. JPMorgan Chase & Co. has a 1 year low of $95.95 and a 1 year high of $119.33. The firm has a market capitalization of $354.93 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 1.70 and a beta of 1.17.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 12th. The financial services provider reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.10. JPMorgan Chase & Co. had a net margin of 23.39% and a return on equity of 13.90%. The firm had revenue of $27.26 billion for the quarter, compared to analyst estimates of $27.20 billion. During the same period in the previous year, the business earned $1.76 EPS. Research analysts expect that JPMorgan Chase & Co. will post 9.26 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Friday, October 5th were paid a $0.80 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $0.56. This represents a $3.20 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Thursday, October 4th. JPMorgan Chase & Co.’s payout ratio is presently 46.58%.

In other JPMorgan Chase & Co. news, Director Mellody L. Hobson purchased 1,150 shares of the stock in a transaction on Friday, October 19th. The shares were purchased at an average cost of $108.94 per share, for a total transaction of $125,281.00. Following the purchase, the director now owns 2,632 shares of the company’s stock, valued at $286,730.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.73% of the stock is currently owned by insiders.

JPM has been the topic of several research reports. Royal Bank of Canada reaffirmed a “buy” rating and issued a $120.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, July 16th. BMO Capital Markets boosted their price objective on shares of JPMorgan Chase & Co. from $110.00 to $118.00 and gave the company a “market perform” rating in a research report on Monday, July 16th. Vining Sparks reaffirmed a “buy” rating and issued a $125.00 price objective on shares of JPMorgan Chase & Co. in a research report on Friday, October 12th. Goldman Sachs Group set a $130.00 price objective on shares of JPMorgan Chase & Co. and gave the company a “neutral” rating in a research report on Friday, October 12th. Finally, Bank of America boosted their price objective on shares of JPMorgan Chase & Co. from $126.00 to $132.00 and gave the company a “buy” rating in a research report on Monday, September 17th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $123.44.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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